Weekly Unemployment Claims (every Thursday)
The first of this morning’s three economic reports was last week’s unemployment figures at 8:30 AM ET. They revealed that 232,000 new claims for unemployment benefits were filed last week. This was a decline from the previous week’s 244,000 initial filings and lower than the 240,000 that was forecasted. Because falling claims hints at a strengthening employment sector, this was bad news for bonds and mortgage rates. Fortunately, it is only a weekly report, so its impact on today’s trading has been minimal.